John Friedman

The Great Depression was a period of time lasting from 1929 to 1939 (a ten year span). The event that started it all was the stock market crash in October of 1929. 12.9 million shares were traded on October 12, 1929. The day became known as “Black Thursday.” Five days later 16 million shares were traded, making that day known as “Black Tuesday.” By March of 1930, 3.2 million Americans were unemployed and most had already lost their lifesavings, homes, and their hope. Riots began to break out by…

the cash supply, yield, and costs all fell abruptly in the constriction and rose quickly in the recuperation; the trouble lay in setting up the causal connections among these variables. In their excellent investigation of U.S. financial history, Friedman and Schwartz (1963) introduced a monetarist elucidation of these…

role as overseer and regulator of the commercial banking system met with a very poor result.” (Ranson 407). Ranson is a critic of the Federal Reserve and its policies. Milton Friedman, in concurrence with Ranson, claims “If Congress had been in control of monetary policy, you would not have had the Great Depression.” (Friedman 635). Dean Baker, co-director for Centre for Economic and Policy Research, predicted the recession of 2008-09 as a result of the federal reserve’s monetary policy. In…

Milton Friedman, a conservative economist that was most popular in the later part of the twentieth century, wrote many books and studies on the free market. In his piece, “Free to Choose,” Friedman outlined that the free market should be protected to create more growth for society. Though I agree that Friedman makes some excellent points, I believe that his approach to creating freedom is not worth the price of inequality that comes with it. The major dilemma being discussed in this article is…

Tough situations can create tough decisions! Women are forced to make these decisions regardless of the current conditions. “The disaster of the Great Depression touched all aspects of women’s lives.” (Reagan 132). “That there could be so many desperate enough to prefer to risk their lives rather than bear the fruit of their bodies not only given an in liking of the nationwide extent of this grim practice but dramatically emphasizes our inept handling of a great social problem.” (Kaley 1). The…

Friedman and Schwartz write: From the peak in August 1929 to March 1933, the stock of money fell by over a third and the result was what Friedman calls the "Great Contraction” a period of falling income, prices, and employment caused by the choking effects of a restricted money supply. Friedman and Schwartz argue that people wanted to hold more money than the Federal Reserve was supplying. People…

Thomas Friedman reminds us, “the average and the dumb…were made that way. They were shaped in large measure by school systems” (314). Children are being taught to be average. Sir Kenneth Robinson explains how: “They’ve spent ten years at school being told there’s…

Milton Friedman in his book Capitalism and Freedom outlined how he believes the government should function, what it should control, and how it should respond to social issues. Friedman above all else wants to be free, and wants every other person to be free, but how would Milton Friedman respond to the Brown v. Board of Education decision which is generally seen as giving other people’s freedom? Friedman would respond to this situation in two different ways, one on a emotional level, and the…

“The playing field is being leveled” states Thomas Friedman in his bestselling book The world is Flat.1 What Thomas Friedman is referring to is globalization of our world with the advent of new technologies and communications. Gone are the barriers to collaboration as you can now reach out quickly and easily over waters, mountains and boarders to instantly get or send information, collaborate, or market. This leveling has occurred across many industries such as retail, communication and more…

Milton Friedman was a world-famous economist, statistician, and public policy analysis. He was perhaps the most prominent economist of the 20th century and was awarded the Nobel Prize in Economics in 1976 (nobelprize.org). He was also awarded the Presidential Medal of Freedom by President Reagan in 1988 (reaganlibrary.gov). Mr. Friedman firmly believed in the free enterprise system. He stood by the notion that an atmosphere of competition and the rewards of individual success, are, and…